Texas § 22.158 EARNINGS.

Texas Statutes

§ 22.158 — EARNINGS.

Texas § 22.158

Code TNTransportation Code

This text of Texas § 22.158 (EARNINGS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Transportation Code Code Ann. § 22.158 (2026).

Text

Sec. 22.158. EARNINGS.

(a)No part of a nonprofit airport facility financing corporation's net earnings remaining after payment of its expenses and other obligations may benefit an individual, private firm, or private corporation.

(b)If the board of directors determines that sufficient provision has been made for the full payment of the expenses, bonds, notes, and other obligations of the corporation, any net earnings of the corporation subsequently accruing shall be paid to the joint board for the benefit of the constituent agencies in their respective ownership shares of the airport in accordance with the joint agreement.

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Sec. 22.158. EARNINGS. (a) No part of a nonprofit airport facility financing corporation's net earnings remaining after payment of its expenses and other obligations may benefit an individual, private firm, or private corporation.
(b) If the board of directors determines that sufficient provision has been made for the full payment of the expenses, bonds, notes, and other obligations of the corporation, any net earnings of the corporation subsequently accruing shall be paid to the joint board for the benefit of the constituent agencies in their respective ownership shares of the airport in accordance with the joint agreement.